HEFA vs ICVT

Comparison between ISHARES CURRENCY HEDGED MSCI EAFE ETF (HEFA, ETF) and ISHARES CONVERTIBLE BOND ETF (ICVT, ETF).

5-Year PerformanceHEFA has outperformed ICVT, delivering a return of +13.9% compared to +7.0%

HEFA vs ICVT - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	HEFA(ETF)	ICVT(ETF)
Net Assets	$7.10B	$7.10B
Expense Ratio	0.35%	0.20%
Max Drawdown	32.39%	38.15%
Sharpe Ratio	1.78	2.02
5Y Beta	0.74	0.60
5Y Dividends CAGR	20.05%	-14.58%

Net Assets

HEFA

$7.10B

ICVT

$7.10B

Expense Ratio

HEFA

0.35%

Winner

ICVT

0.20%

Max Drawdown

Winner

HEFA

32.39%

ICVT

38.15%

Sharpe Ratio

HEFA

1.78

Winner

ICVT

2.02

5Y Beta

HEFA

0.74

Winner

ICVT

0.60

5Y Dividends CAGR

Winner

HEFA

20.05%

ICVT

-14.58%

HEFA vs ICVT - Historical Returns

Returns include dividend reinvestment.

Period	HEFA	ICVT
1 month	+2.31%	+3.04%
3 months	+11.39%	+18.52%
6 months	+12.33%	+22.69%
1 year	+29.36%	+40.16%
5 years(CAGR)	+13.94%	+6.97%
10 years(CAGR)	+12.68%	+13.97%
Max(CAGR)	+10.75%	+11.92%

HEFA

+2.31%

Winner

ICVT

+3.04%

HEFA

+11.39%

Winner

ICVT

+18.52%

HEFA

+12.33%

Winner

ICVT

+22.69%

HEFA

+29.36%

Winner

ICVT

+40.16%

5Y(CAGR)

Winner

HEFA

+13.94%

ICVT

+6.97%

10Y(CAGR)

HEFA

+12.68%

Winner

ICVT

+13.97%

Max(CAGR)

HEFA

+10.75%

Winner

ICVT

+11.92%

HEFA vs ICVT - Annual Returns (2014 - 2026)

Returns include dividend reinvestment.

Year	HEFA	ICVT
2026	+10.72%	+22.51%
2025	+24.11%	+18.03%
2024	+13.79%	+11.71%
2023	+18.27%	+15.59%
2022	-5.86%	-20.76%
2021	+19.07%	-0.63%
2020	+0.72%	+59.30%
2019	+27.05%	+22.39%
2018	-9.58%	-1.05%
2017	+15.19%	+15.43%
2016	+8.06%	+11.50%
2015	+3.94%	-6.03%
2014	+6.13%	N/A

HEFA vs ICVT Drawdown Comparison

The maximum drawdown for HEFA was -32.39%, occurring on Mar 16, 2020. Recovery took 226 trading sessions.

The maximum drawdown for ICVT was -33.15%, occurring on Jun 16, 2022. Recovery took 1145 trading sessions.

The current HEFA drawdown is -1.61%. The current ICVT drawdown is -1.95%.

Rank	HEFA	ICVT
#1	-32.39% Feb 12, 2020 - Jan 5, 2021	-33.15% Feb 12, 2021 - Sep 5, 2025
#2	-23.14% May 27, 2015 - Mar 1, 2017	-32.18% Feb 19, 2020 - Jun 5, 2020
#3	-15.43% Jan 23, 2018 - Apr 12, 2019	-18.52% Jun 23, 2015 - Oct 10, 2016
#4	-14.77% Jan 4, 2022 - Jan 23, 2023	-13.86% Aug 29, 2018 - Feb 25, 2019
#5	-14.28% Feb 18, 2025 - May 12, 2025	-8.63% Sep 1, 2020 - Oct 9, 2020
#6	-9.79% Jul 12, 2024 - Oct 14, 2024	-7.55% Nov 3, 2025 - Jan 16, 2026
#7	-9.52% Feb 25, 2026 - May 21, 2026	-6.75% Jan 26, 2018 - Mar 8, 2018
#8	-9.48% Sep 4, 2014 - Nov 18, 2014	-6.74% Jun 2, 2026 - Jun 18, 2026
#9	-7.49% Dec 5, 2014 - Jan 26, 2015	-6.55% Jul 24, 2019 - Nov 25, 2019
#10	-6.87% Jul 3, 2019 - Sep 12, 2019	-6.17% Jan 28, 2026 - Apr 8, 2026
#11	-6.78% Jul 31, 2023 - Nov 24, 2023	-5.84% Mar 12, 2018 - May 30, 2018
#12	-5.83% Mar 3, 2023 - Apr 10, 2023	-5.49% May 3, 2019 - Jul 1, 2019
#13	-5.59% Nov 16, 2021 - Jan 3, 2022	-4.87% Jun 8, 2020 - Jun 17, 2020
#14	-4.97% Apr 29, 2019 - Jul 1, 2019	-4.66% Oct 13, 2020 - Nov 5, 2020
#15	-4.84% Jun 19, 2014 - Sep 4, 2014	-4.43% Jun 20, 2018 - Aug 28, 2018

Correlation

Correlation between HEFA and ICVT is 0.91 which considered as a very strong positive correlation - the stocks move almost identically together.

0.91

-101

Dividend Comparison (2014 - 2026)

HEFA vs ICVT dividend yield comparison.

Year	HEFA	ICVT
2026	0.00%	0.51%
2025	4.40%	1.73%
2024	3.09%	2.19%
2023	3.02%	1.85%
2022	25.14%	1.93%
2021	3.06%	7.70%
2020	2.10%	3.98%
2019	7.56%	1.86%
2018	4.58%	4.82%
2017	2.55%	2.56%
2016	3.17%	3.06%
2015	3.54%	1.57%
2014	3.40%	0.00%